The cost of imported used vehicles is likely to rise from this month onwards as a result of the revision made to the level of discount applied to the benchmark values for cars.

This is according to the Automobile Dealers Union Ghana.

March 1, 2022, marked the successful commencement of the application of the 10% discount on used vehicles at the country’s ports.

Initially, a discount of 30% was applied on imported vehicles.

In an interview with Citi Business news, General Secretary of the Automobile Dealers Union Ghana, Clifford Ansu, noted that their members will ensure they sell their imported vehicles at a profit.

“Customers in the system will pay for the price increase because nobody imports something to sell at a loss, we import to sell at a profit. The new revision will lead to cars that cost $20,000 costing about $23,000, which will affect the customers.”

“We are concerned about the possible price increases because if we import, and they don’t buy, then we will incur losses. But what can we do? We can’t import and sell at a loss,” he added.